Credit card customers surprised by extreme rate hikes - Spokane, North Idaho News & Weather KHQ.com

Credit card customers surprised by extreme rate hikes

SPOKANE, Wash. - Many people are outraged that banks getting billions in taxpayer bailout money are raising interest rates on their credit cards.

Ted Troscianecki's interest rate doubled even though he's never been late with a payment and always pays more than the minimum due.

"They're getting bailed out in a number of ways. Don't ask your customers to bail you out as well," Troscianecki said.

Credit card issuers have always reviewed customers' accounts every 90 days and base any change in the customer's interest rate on their FICO score (overall amount of debt and history of paying bills on time), but the unusually high rates now being charged to even outstanding customers is an attempt by the banks to make a profit off credit cards - something banks said they haven't been doing since the economy went sour.

One Consumer Credit Counseling Service said cardholders can try calling their credit card issuer and ask for a lower rate if their rate spikes and if they fear they're not going to be able to make the increased minimum payment, cardholders can talk to a credit counselor and have them negotiate with the credit card company, but that will mean going on a debt management plan and there will be a sacrifice.

"If they go on a debt management plan their credit balance or whatever is available, that credit is not available to them anymore," Richard Schram of the CCCS said.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Violent Spokane drug trafficker gets 30 years in prison

    Violent Spokane drug trafficker gets 30 years in prison

    Wednesday, May 24 2017 12:00 AM EDT2017-05-24 04:00:27 GMT

    SPOKANE, Wash. - A 32-year-old Spokane man was sentenced to 30 years in prison Tuesday, after he pleaded guilty to drug trafficking charges, firearms offenses and threatening witnesses. The United States Attorney's Office reported Tuesday that Aren Lee Perryman, aka Filthy, pleaded guilty to Trafficking in Methamphetamine and Heroin; Possessing and Using Firearms in Connection with Drug Trafficking; and Intimidating and Threatening witnesses.

    >>

    SPOKANE, Wash. - A 32-year-old Spokane man was sentenced to 30 years in prison Tuesday, after he pleaded guilty to drug trafficking charges, firearms offenses and threatening witnesses. The United States Attorney's Office reported Tuesday that Aren Lee Perryman, aka Filthy, pleaded guilty to Trafficking in Methamphetamine and Heroin; Possessing and Using Firearms in Connection with Drug Trafficking; and Intimidating and Threatening witnesses.

    >>
  • Graco recalls 25,000 car seats

    Graco recalls 25,000 car seats

    Wednesday, May 24 2017 9:53 AM EDT2017-05-24 13:53:02 GMT

    DETROIT (AP) - Graco Children's Products is recalling more than 25,000 car seats because the harness webbing can break in a crash and may not keep children restrained. The recall affects certain My Ride 65 convertible seats made on July 22, 2014 with a code of 2014/06 on a tag that's on the webbing.

    >>

    DETROIT (AP) - Graco Children's Products is recalling more than 25,000 car seats because the harness webbing can break in a crash and may not keep children restrained. The recall affects certain My Ride 65 convertible seats made on July 22, 2014 with a code of 2014/06 on a tag that's on the webbing.

    >>
  • Woman lost in Montana wilderness tells miraculous story of survival

    Woman lost in Montana wilderness tells miraculous story of survival

    Tuesday, May 23 2017 8:56 PM EDT2017-05-24 00:56:55 GMT

    By David Winter ABC Fox Montana/KTMF A Chicago woman visiting family in Montana captivated the nation for nearly a week as she was lost in the woods. Then miraculously, found alive and well with her dog, Mogie. Now Madeline Connelly, her family and members of the search crew are sharing their stories from Maddie's seven days alone in the woods.

    >>

    By David Winter ABC Fox Montana/KTMF A Chicago woman visiting family in Montana captivated the nation for nearly a week as she was lost in the woods. Then miraculously, found alive and well with her dog, Mogie. Now Madeline Connelly, her family and members of the search crew are sharing their stories from Maddie's seven days alone in the woods.

    >>
HD DOPPLER 6i
/